Event:2015/07/22 Finance Working Group

Members present

• Barrett
• Julio
• Matt
• Helen
• Sarah

Agenda

• Update on Quickbooks
• Financial updates
• Matt update on stripe transactions
• Barrett update on events from Commons WG
• Discussion on miscalleneous finance stuff
• Update to delegates
• Next meeting is Aug 5

Update on QB

• Almost done reconciling the past bank statements with Quickbooks
• Once we have the detail, we will have a better idea of the financial history and have more accurate projections in the future
• Meeting with accountant (Mary)
• Once that activity is finished, another task: twice a month reconcile to ensure automatic trasactions are accurate

Financial update

• Some insurance did not get paid (at least 5 policies)
• Insurance to come up to date $4182.32
• Rent for August (due Aug 1) $14,149
• Total for August is $18,3331.32
• Questions for State Farm
  • Can we do a monthly payment for now?
  • Automation
  • If not monthly payment, and we succeed (buy building) or fail (lose the building)

Matt update on stripe transactions

• Stripe is the credit card transaction company we used while using Wave App (before QB)
• some Stripe transactions are missing?

Barrett update on events updates on commons WG

• Meetings are chaotic
• Barrett is creating invoices on the fly
• Barrett can only attend one more meeting
• Hopefully, process will be more streamlined and we'll have fewer invoices that take in more money each
• Juilo and/or Matt can take over after Barrett leaves early August

Miscellaneous Finance discussion

• What is the Omni's relationship with money?
  • Discussion on history with money, conflicts around money, and current state of realism vs. the anti-capitalist nature of this project

• What is the state of fundraising?
  • Buy the Omni effort is trying to figure out
  • Other efforts have been successful but caused burnout

• Liaison with Building WG
  • Helen volunteers to do this

• Phat Beets clarification
  • agreed to pay $750
  • paying the rent and not shared expenses

Finance Updates to Delegates

• Every delegates meeting should have a brief update
• Sarah will update tomorrow 23 July, 30 July
• Who will update the delegates on 13 August?
  • Decide on 5 August

Action Items

• Sarah to send Julio spreadsheet with all financial obligations
• Sarah will check Federal Western CU for missing money from Stripe transactions
• Matt will fill in the rest of Wave app info
• Sarah will set up meeting with State Farm Tuesday (after 3pm)
  • Julio can do btw 3-5pm
  • Matt can do after 5pm
• Sarah will set up a meeting with Phat Beets